Carson releases tax plan

Carson releases tax plan
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Republican presidential candidate Ben Carson on Monday released his tax plan that includes a 14.9 percent flat tax.

"My flat tax plan has the power to rekindle our nation’s founding ideals by eliminating the needless complexity and treating every American, rich and poor, with or without lobbyists or lawyers, equal in their ability to achieve the American Dream," Carson said in the document detailing his plan.

The 14.9 percent tax would apply to both personal and business income. It would apply only to income above 150 percent of the federal poverty level, though citizens whose income is at or below that level would have to make an annual de minimis tax payment.
 
Carson's plan would eliminate taxation of capital gains, dividends and interest at the individual level. The alternative minimum tax and the estate tax would also be eliminated.
 
The proposal would do away with deductions and other tax breaks — including the deductions for mortgage interest, charitable giving and state and local taxes, which are often thought of as sacred cows. 
 
Sens. Ted CruzRafael (Ted) Edward CruzO'Rourke writes blog post describing a literal run from near the capitol to near the White House Cruz brushes off question about campaign claim on O'Rourke paying for caravan Texas New Members 2019 MORE (R-Texas) and Rand PaulRandal (Rand) Howard PaulHillicon Valley: Facebook reeling after NYT report | Dems want DOJ probe | HQ2 brings new scrutiny on Amazon | Judge upholds Russian troll farm indictments | Cyber moonshot panel unveils recommendations Overnight Defense — Presented by Raytheon — Border deployment 'peaked' at 5,800 troops | Trump sanctions 17 Saudis over Khashoggi killing | Senators offer bill to press Trump on Saudis | Paul effort to block Bahrain arms sale fails On The Money: Senior GOP senator warns Trump against shutdown | Treasury sanctions 17 Saudis over Khashoggi killing | HQ2 deal brings new scrutiny on Amazon | Senate confirms Bowman to Fed board MORE (R-Ky.) also are proposing flat taxes on income, though their plans essentially include value-added taxes. Proposals from other GOP candidates — including Donald TrumpDonald John TrumpAvenatti ‘still considering’ presidential run despite domestic violence arrest Mulvaney positioning himself to be Commerce Secretary: report Kasich: Wouldn’t want presidential run to ‘diminish my voice’ MORE, Sen. Marco RubioMarco Antonio RubioRubio defends '3 point kick' analogy: 'You think everyone who follows politics knows what a field goal is?' Lawmakers to introduce bipartisan bill targeting China's treatment of Muslims Rubio cites Bible verse amid recount criticisms: ‘You cannot count what is not there’ MORE (Fla.) and former Florida Gov. Jeb Bush — keep some deductions and lower the top individual rate without moving to a flat tax.
 
"Unlike proposals advanced by other candidates, my tax plan does not compromise with special interests on deductions or waffle on tax shelters and loopholes," Carson said in the document. "Nor does it falsely claim to be a flat tax while still deriving the bulk of its revenues through higher business flat taxes that amount to a European-style value-added tax." 
 
Carson has fallen in the polls and two of his top aides resigned last week, but he still managed to raise $23 million in the fourth quarter of 2015.